GateHub Review | Is It Safe?

Ever since cryptocurrencies have arrived on the horizon, there have been massive changes in the way people and corporates make transactions. The new trend has mesmerized the masses.

Here in this article, I will guide you on GateHub, a cryptocurrency exchange platform that allows users to trade and make payments at an attractive cost.

When GateHub was first launched, it was built specifically for the Ripple (XRP) cryptocurrency, however, it now supports a total of 8 different coins. GateHub has two main functions as it not only allows people to store their coins but also allows them to trade with other crypto coins.

Later in this discussion, you will appreciate GateHub’s intimate connection with Ripple and discover various facets of the cryptocurrency.

Introduction to GateHub

GateHub is a Bitcoin, Ethereum, Ethereum Classic and Ripple wallet, which was created by a UK based company in 2014. It uses Ripple as a form of digital coin for trading and moving money across the Ripple Network.

GateHub as a wallet based platform allows users to store, send and exchange cryptocurrencies. The GateHub website states that money is “safely stored in one of your trusted gateways. We make sure your money is always safe and 100% backed.”

GateHub Review

A broad review of GateHub can highlight that the wallet is really user-friendly and the website is very simple to use. This makes it perfect for beginners.

One of the best features is that it not only supports multiple cryptocurrencies but also supports fiat currency, such as U.S. dollars.

We can summarize key features of GateHub as below:

Concerning ease of use, GateHub is good.

Regarding fees levied, GateHub is above average.

Concerning customer support, GateHub is below average.

Regarding trust, GateHub is rated average.

Features of GateHub

GateHub Wallet Features

GateHub Customer Support

GateHub is quick to respond when you reach to them by sending a mail. The GateHub official website is available on multiple social platforms such as Twitter, Facebook, Google+ and Linkedin to help you with issues relating to the wallet.

Apart from these social platforms, the website also offers valuable resources with blogs, Ripple Live and Ripple Market and Gateways.

Live Data Tracking

The Live Data Tracking feature allows you to have a view of all your assets in a single page. Under this page, you can have a glance at what the exact value of the asset is, which tends to be increasing or decreasing.

Net Worth

Find valuable information about your wallet and asset distribution in one single place. GateHub’s Net worth feature is calculated in real time.

GateHub Gateway Features

Managed Hosting

GateHub’s gateway seamlessly manages and coordinates the infrastructure that you need to operate on the Ripple network.

GateHub’s Application Program Interface

GateHub provides an application program interface(API) that makes it easy to program applications with an existing code base.

Risk Management

GateHub is striving to provide Know Your Client(KYC) and Anti Money Laundering(AML) features to help lessen the counterparty risks while identifying suspicious transactions.

Dangers of leaving XRP and other cryptos in an online wallet or on an exchange

Cryptocurrency exchanges are a 24/7 global market, making them prone to attacks at any point of the day, from any part of the world. Several exchange platforms are attacked with numerous DDOS(distributed denial of service) attacks at the same time.

If you are a large volume trader, consider porting your funds to a ‘cold’ wallet and not abandoning them on an online wallet or exchange.

The connection of GateHub with Ripple

If you ask what GateHub has to do with Ripple, then the answer is simple. GateHub is among the leading online brokers that are constructed to store all your XRP in trusted gateways safely.

It has a particular gateway designed specifically for Ripple and also for a few other digital assets. It is called ‘GateHub Fifth’ which apart from XRP provides BTC, ETH, ETC and REP publication on the Ripple Network.

4Stop a leading fraud prevention provider, announces that GateHub a global ripple wallet and gateway provider has signed to integrate 4Stop’s proprietary KYC, compliance and risk management technology.

GateHub, a multi-asset wallet and trading platform that integrates with the Ripple network, announces the launch of a new wallet.

GateHub Announces New Wallet, Plans Visa, Mastercard Expansion.

APPx Group Holdings, Inc. Signs letter of intent for Rights to GateHub Canada.

APPx Group Holdings, Inc., a Canadian FinTech incubator announced today that it has entered into a non-binding letter of intent (LOI) with GateHub Ltd. for a 5-year full partnership agreement in which APPx will own the rights to GateHub in Canada.

Conclusion

GateHub is owned by London based GateHub Limited and has been in the news for both right and wrong reasons. GateHub’s primary focus is entirely on the Ripple network, supporting Euros and Dollars as fiat currencies along with quite a few crypto coins.

As an exchange platform, it does a good job when it comes to delivering a user-friendly platform and a versatile wallet.

Although, the major concerns are the recent security breach that made users question its reliability and security coupled with a lot of negative reviews regarding its customer support.

These are a few things that GateHub has to improve on and it is poised to be an excellent platform that can shine by fixing these issues.